Question

Distinguish between product markets and factor markets

Answer 1

Mar 2015 factor markets are concerned with for factors of production or inputs in a process (such as labor, capital, etcetera), whereas product refer to the market final goods themselves cars, hamburgers).

Answer 2

Heya...

______ product market _______

• It's the market that charges the price according to the cost of advertising and brand loyalty of the products...

• It's motive is just to the earn profit by advertising....

________ factor market _________

• It's the market in which charges are taken up to only for the cost of inputs used as factor cost..

• It's motive is just to sell the output for stock clear...

Thank you